Bomchil and Marval in new issue of Aluar Aluminio’s Notes
Bomchil advised Aluar Aluminio Argentino, and Marval O’Farrell Mairal advised the underwriters and the representative of the holders, in the issuance of the Series 9 Notes for a total nominal amount of USD $50,000,000.
The issue took place on 13 June where the hard-dollar secured Series 9 Notes were issued at a fixed annual nominal rate of 6.00%, maturing on 13 June 2026, integrated and payable in US dollars abroad.
Payment of the Series 9 Notes will be secured by the grant to Citibank, as collateral agent, of a first priority security interest (pledge) in all funds on deposit in the reserve account, where aluminium export collections of up to 125% of the principal and interest on the Series 9 Notes payable in the current month and the following six calendar months may accrue, subject to the laws of the State of New York, United States of America.
The Series 9 Notes are listed and traded on the Argentine Stock Exchange and the Electronic Open Market (Mercado Abierto Electrónico), respectively.
The placement was carried out by SBS Trading and Banco Santander Argentina, as arrangers and underwriters; and by Balanz Capital Valores, Nación Bursátil, Banco de la Provincia de Buenos Aires, Banco Comafi, Macro Securities, Banco Patagonia, Alchemy Valores, Banco Mariva, and Industrial Valores, as underwriters. In addition, TMF Trust Company Argentina acted as representative of the holders.
Aluar Aluminio Argentino is a nationally owned company managed in accordance with the most demanding international parameters of the industry and in permanent evolution. Thanks to a constant investment plan, its current aluminium production capacity is 460,000 tons per year, which allows it to fully supply the local market and export 70% of its production to various markets, including NAFTA countries, Latin America and Asia.
Linklaters advised Aluar in the US, while Alston & Bird acted as New York counsel to the security agent.
Bomchil’s team consisted of partner María Victoria Funes (pictured left) and associates Luciano Zanutto and Yazmín Sophie Tek.
Marval’s team included partners Gabriel G. Matarasso (pictured centre) and Sergio Tálamo (pictured right) and associates Juan Pablo Lentino and Lautaro Penza and as external legal counsel to the Holders’ Representative, through associate Martín I. Lanús.
Linklaters’ team comprised partners Michael Bassett, Conrado Tenaglia and associate Juan Mata.
Alston & Bird’s team was represented by Brad Johnson and Dan Jouppi.
